At the beginning of the year, Rita Pasta Company had total assets of $780,000 and total liabilities of $400,000. Answer the following questions.
1. If total assets increased $125,000 during the year and total liabilities decreased $50,000, what is the amount of stockholders’ equity at the end of the year?
2. During the year, total liabilities increased $100,000, and stockholders’ equity decreased $50,000.What is the amount of total assets at the end of the year?
3. If total assets decreased $90,000 and stockholders’ equity increased $130,000 during the year, what is the amount of total liabilities at the end of the year?